Engie: net income flat in 2019

(CercleFinance.com) - Engie's sales amounted to 60.
1 billion euros, up 5.4% in gross terms and up 4.1% organically.

EBITDA amounted to 10.4 billion euros, up 6.8% in gross terms and 8.1% in organic terms. Underlying operating profit after the share of income from equity affiliates amounted to 5.7 billion euros, up 11.1% in gross terms and up 14.4% in organic terms.

Recurrent net income, group share from continuing operations amounted to 2.7 billion euros, compared with 2.5 billion euros in 2018. Net income, group share was 1.0 billion euros in 2019. The group said that this is flat from one year to the next, due to the increase in recurrent net profit and capital gains on disposals.

Engie forecasts 2020 recurrent net income, group share of between 2.7 billion and 2.9 billion euros. This target is based on an indicative EBITDA range of 10.5 billion to 10.9 billion euros and underlying OP of 5.8 billion to 6.2 billion euros.

For 2022, Engie forecasts an average annual growth rate of recurrent net income, group share of between 6% and 8% (i.e. between 3.2 billion and 3.4 billion euros).


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